Is Your Business Insurance Meeting Your Needs?

Insurance isn't just another expense--it's an essential element of most businesses and, when properly managed, can make a positive contribution to your business's bottom line. Review every policy once a year to make sure you have the appropriate coverage at the best price.

Your benefits insurance (health, life and other specialty coverages) and your business insurance should be examined separately, but many of the same strategies apply. Cash Brown, director of Cash Brown's School of Insurance in Boca Raton, Florida, suggests starting by asking your current agent to review your coverage and make suggestions for changes. Then ask another broker for a proposal. "Bring in somebody fresh and different to see what's new and what approach they might suggest," Brown says.